At the September 4, 2008 "emergency meeting" at the Dept. of Transportation, Dan Gilligan, Director of Economic Development in the Town of New Hartford, had quite a lot to say.
In particular, Dan tried to convince Mr. Wiatr of Concerned Citizens and the other attendees that the developer, Larry Adler, was taking on quite a bit of the risk for the New Hartford Business Park. According to Dan Gilligan, Larry Adler has provided the town with a Letter of Credit, i.e. Mr. Adler has agreed in writing to be a guarantor of the bond.
Listen to the excerpt from the meeting...Dan Gilligan states that "the developer makes whole any payments...if there is a shortfall, the developer...he is the Letter of Credit guy who makes up the difference". The first speaker is Mr. Wiatr and then Dan Gilligan gives his reply.
Mr. Gilligan sounds convincing doesn't he? Considering that Mr. Larry Adler, the Letter of Credit guy, was at the meeting and said nothing should convince even Concerned Citizens that the Letter of Credit has been signed, sealed and delivered. Right?
Concerned Citizens wasn't convinced...we sent a FOIL to the town clerk asking for a copy of the Letter of Credit. The Town Clerk replied:
The Highway Superintendent, Town Planner, Planning Board Secretary and Bookkeeper have responded that they do not have the referenced Letter of Credit. You refer to Town Board minutes referencing that the Letter of Credit will be revised and accepted by Bond Counsel, so perhaps this hasn't been done yet. Your request is denied because, as of today, the Letter of Credit does not exist as a Town record.Maybe the Director of Economic Development still has the letter. How 'bout it Mr. Gilligan? Do you have that Letter of Credit or was it returned...
Gail Wolanin Young
Why would Dan Gilligan think there was a Letter of Credit, more importantly why would Town Supervisor Earle Reed and Deputy Supervisor Dave Reynolds, who were both in attendance at the meeting, not correct Mr. Gilligan? Don't they want the public to know the truth or are they not even sure of the truth at this point? How can anyone believe anything they say when it is so easy to verify that their baloney is false and yet they still keep blowing smoke?
Still not completely convinced, Concerned Citizens asked for a certification as to the validity of the information we received in answer to our FOIL for the Letter of Credit. FOI Law allows for a certification just to be sure that what you get is what you think you got.
Sure enough, Town Supervisor Reed was willing to certify that there is no Letter of Credit...at least not at this point.
So let's see where we stand at this point. There are no signed PILOT allocation agreements...only the actual PILOT agreement signed by The Hartford, Ryan Companies and Oneida County Industrial Development. There is a $2.9 million bond anticipation note that has already been approved by the town board and over $1 million of that has already been bid out...we don't know, who do you think is on the hook for that bond at this point?
And Mr. Gilligan has the audacity to tell Mr. Wiatr that what Mr. Wiatr is saying is not all true...give us a line of credit!
Wait...it gets better...Stay tuned!
p.s. If you haven't already listened to the entire audiotape of the "emergency meeting", please click here!